DIRS.INFO The most relevant business & tech news

☆ The UK is the 'sick child' of markets, BNY Mellon
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe UK is the 'sick child' of markets, BNY MellonMike Horan, head of EMEA trading at BNY Mellon, says inflation in the U.K. is sticky, and explains why it's the "sick child" among its U.S. and EU counterparts.

☆ CEO and Google X co-founder: 'Mission doesn't come so easily'—how she found hers
▼ + stars: | 2023-05-19 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

It's taken decades to connect the dots between her mission and the best way to implement it on the ground. Here's how she went from tennis player to Google X co-founder to entrepreneur. 'Do you want to help start this new unit called Google X?' In 2009, "I basically got a call saying, 'Hey, do you want to help start this new unit called Google X?'" "I wanted to build a combination of hardware, software and people to build the solutions to help everyday people," she says.

☆ 'Big money never buys cheap': Why investors are waiting on Japan
▼ + stars: | 2023-05-18 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

Yet for many, the lofty milestones are a reminder that Japan's stocks have gone sideways for years, making many foreign asset allocators reluctant to venture into the market. "A very significant inflow from global investors (followed)," Powell said, "but then unfortunately, a lot of the enthusiasm has dissipated." Swiss wealth manager Union Bancaire Privée is also underweight Japan, with the policy outlook presenting currency risks. BIG MONEY WAITINGThe policy and communication challenge for new BOJ governor Kazuo Ueda is a tricky one. "Big money never buys cheap, it buys momentum."

☆ Analysis: 'Big money never buys cheap': Why investors are waiting on Japan
▼ + stars: | 2023-05-18 | by ( Summer Zhen | ) www.reuters.com time to read: +5 min

☆ These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio
▼ + stars: | 2023-05-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

These are the top 10 stocks held in Berkshire Hathaway's $325 billion stock portfolio as of March 31. With various portfolio changes in the first quarter of the year, Berkshire Hathaway's top 10 holdings of US stocks has shifted, though Apple still represents a near 50% of the portfolio. In fact, the top 10 positions in Berkshire Hathaway's portfolio make up a massive 90.2% of its entire portfolio. These are the top 10 stocks held in Berkshire Hathaway's $325 billion US stock portfolio as of March 31. American ExpressCredit cards fill a display at American Express headquarters John Moore/Getty ImagesTicker: AXPPosition: $25.0 billionPercent of portfolio: 7.7%2.

☆ BNY Mellon launches new ETF focused on women's opportunities
▼ + stars: | 2023-05-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

Investing in women's empowerment and opportunities is something portfolio managers Julianne McHugh and Miki Behr have talked about doing for years. BNY Mellon Women's Opportunities ETF , the exchange-traded fund they manage, launched Wednesday, trading under the ticker BKWO. Investing for financial return while promoting gender diversity, known as gender lens or gender equity investing, isn't new. Assets in U.S. gender equity funds have doubled over the last three years, to $1.3 billion, as of the end of February, Morningstar found. Those funds represent less than 0.01% of total equity fund assets in the United States, according to the firm.

☆ Berkshire Hathaway Opens New Position in Capital One, Exits BNY Mellon
▼ + stars: | 2023-05-16 | by ( Akane Otani | ) www.wsj.com time to read: 1 min

Berkshire’s annual shareholder meeting in Omaha, Neb., was held earlier this month. Photo: Madeline Cass for The Wall Street JournalWarren Buffett ’s company spent the first quarter opening a new position in Capital One Financial and adding to its already large holdings of Bank of America and Apple . A regulatory filing released Monday showed Berkshire Hathaway trimmed its stakes in Chevron , General Motors , Amazon.com and Activision Blizzard , among other companies. It dumped the remainder of its stakes in Taiwan Semiconductor Manufacturing , Bank of New York Mellon , U.S. Bancorp and RH , the home-furnishings company formerly known as Restoration Hardware.

☆ Yellen to meet with Jamie Dimon and other bank CEOs on Thursday as debt ceiling crisis looms
▼ + stars: | 2023-05-16 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —With time running out to reach a deal on the debt ceiling, Treasury Secretary Janet Yellen plans to meet with bank CEOs on Thursday afternoon in Washington, sources tell CNN. JPMorgan Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser plan to attend the Yellen meeting, which will very likely include a focus on the debt ceiling as well as the banking crisis, people familiar with the matter told CNN. As the White House and Republican leaders struggle to reach a deal on the debt ceiling, Yellen has stepped up her warnings about the economic stakes. The debt ceiling is not necessarily the focus of the meeting, which will also include regional bank CEOs at a time when that industry is in turmoil. Yellen is also likely not the only figure from Washington who will speak before the bank CEOs this week.

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

The S&P Regional Banking Index fell approximately 25% during the quarter as a run on deposits sank Silicon Valley Bank and Signature Bank in March, both of which were at the time the largest banking failures since the Great Financial Crisis. The S&P Regional Banking index is now down 36% for the year to date. Famed "Big Short" investor Michael Burry's Scion Asset Management, meanwhile, added a number of new positions in regional banks, including stakes in First Republic, PacWest (PACW.O) and Western Alliance Bancorp (WAL.N). Shares of regional banks have remained volatile in recent weeks, with some investors wary of more tumult to come in the sector. London-based Marshall Wace sold 51,300 shares of First Republic in the first quarter, closing its position in the bank.

☆ Berkshire invests in Capital One, sheds Bank of NY Mellon
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

May 15 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Monday said it has begun investing in Capital One Financial Corp (COF.N) and no longer has a stake in Bank of New York Mellon Corp (BK.N). Berkshire made its disclosures in a regulatory filing listing its U.S.-listed stocks as of March 31. Capital One shares rose 5.3% in after-hours trading, following Berkshire's disclosure of an approximately $954 million stake in the bank. The filing does not identify which investments are Buffett's and which were made by his portfolio managers Todd Combs and Ted Weschler, though larger investments are usually Buffett's. Reporting by Jonathan Stempel in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ NY Fed's domestic markets chief to join Bank of New York Mellon
▼ + stars: | 2023-05-15 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

May 15 (Reuters) - Bank of New York Mellon Corp on Monday said a top New York Federal Reserve official responsible for domestic markets will join the firm next month in a job focused on financial markets. Nathaniel Wuerffel, who last served as senior vice president at the New York Fed and was the New York Fed's Head of Domestic Markets, will join the bank as Head of Market Structure. His bio said he had been working as chief of the domestic markets group since June 2018. Before joining the New York Fed, Wuerffel worked at the Chicago Fed, starting there in 1998. Wuerffel’s exit comes amid flux in the New York Fed’s top staff.

☆ Warren Buffett's Berkshire Hathaway adds Capital One and these other stocks to holdings
▼ + stars: | 2023-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway made a slew of changes to its massive equity portfolio last quarter, including adding a financial stock during the latest banking crisis, according to a new regulatory filing. The Omaha-based conglomerate built a new stake in Capital One Financial in the first quarter, worth more than $950 million, the filing showed. Apple, Activision and more Berkshire hiked its two biggest holdings - Apple and Bank of America - slightly in the first quarter. Buffett said at Berkshire annual meeting that "it's not good news when any company passes its dividend, or cuts its dividend dramatically." Outside of top holdings, Berkshire added a small stake - worth about $40 million - in Diageo , a British alcoholic beverage company.

☆ A viral TikTok video of a strap-on shoe that helps you walk faster has gotten 25 million views. The founder says it's designed for everyone — even though it costs $1,400.
▼ + stars: | 2023-05-15 | by ( Reena Koh | ) www.businessinsider.com time to read: +4 min

A TikTok video of shoes that claim to help you walk 250% faster went viral earlier this year. That's because the shoe will make you walk 250% faster, according to Xunjie Zhang, who developed it. An average person can cover about three miles per hour at a walking pace, Zhang says in the TikTok video. "The faster you walk, the faster the shoes walk with you," Zhang said. "For the small small price of $1399," a sarcastic comment read on the viral TikTok video.

☆ Berkshire invests in Capital One, sheds four stocks
▼ + stars: | 2023-05-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Buffett's company made its disclosures in a regulatory filing listing its U.S.-traded stocks as of March 31. Capital One shares rose 5.7% in after-hours trading following Berkshire's disclosure of a 9.92 million share stake worth about $954 million. In Monday's filing, Berkshire also revealed a new $41.3 million stake in Diageo Plc (DGE.L), the maker of alcoholic beverages including Johnnie Walker and Guinness. BERKSHIRE BUYS MORE APPLE, BANK OF AMERICADespite the selling, Berkshire still invests in several financial services companies. Berkshire also has dozens of operating businesses including the BNSF railroad, Geico car insurance, and many energy, manufacturing and consumer units.

☆ Utah bicycling groups and Democrats call on Mitt Romney to rethink his comments calling bike lanes 'the height of stupidity'
▼ + stars: | 2023-05-12 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Romney faced widespread criticism after telling Insider that bike lanes are "the height of stupidity." "I love Mitt," Schatz told Insider recently in the Capitol. "We're not forcing anybody from an automobile onto a bike, but the truth is, the market is starting to demand that, but the bike lanes haven't caught up. And then in a matter of months, people are putting in their real estate advertisements that it's next to a bike lane. "As much as I ride my bike, unless it's a protected bike lane I don't trust it," he said.

"We are looking into ways to express this (China recovery) theme in our portfolio rather than just say 'let's go long China equity'. "Given the higher risk premium of China stocks, the demand for 'shadowing' China will continue to be strong," Jefferies said. The relative cheapness of European stocks, at least at the start of this year, has also been important. Luxury stocks - less vulnerable to sanctions - have performed well, but geopolitical worries have bruised tech firms, and manufacturing difficulties have hurt commodity stocks. "What is doing extremely well this year is luxury; if you'd bought European miners hoping that China would stimulate, you'd have got it wrong."

☆ CEO who manages $1.5 billion in assets shares her No. 1 investment tip for women: ‘Just do it’
▼ + stars: | 2023-05-10 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Sallie Krawcheck's biggest piece of advice for women investors is simple: Invest some money. After Wall Street CEO and CFO jobs at places like Citibank and Smith Barney, Krawcheck co-founded Ellevest, a digital investment and wealth management platform, in 2014. One in 10 women say they don't fully understand investing, and only about 28% feel confident investing, the BNY Mellon report noted. "Women will not invest if they don't understand, [but] men will invest anyway." That trend is good news for a platform like Ellevest, which has raised $144 million in funding since launching and manages more than $1.5 billion in assets from women investors.

☆ Warren Buffett set for 59th Berkshire Hathaway shareholder marathon as big questions loom
▼ + stars: | 2023-05-06 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." "Charlie is 99 and Warren turns 93 on Aug. 30," Lountzis added, "and you just don't know how many more you're going to have." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview.

☆ Berkshire Hathaway's annual meeting is here: What to expect from Warren Buffett and Charlie Munger
▼ + stars: | 2023-05-05 | by ( Yun Li | ) www.cnbc.com time to read: +7 min

Warren Buffett is set to kick off Berkshire Hathaway 's annual shareholder meeting Saturday before tens of thousands of adoring shareholders. Berkshire's annual "Woodstock for Capitalists" will be held in Omaha, Nebraska, the second straight in-person gathering after two virtual meetings during the pandemic. The question of Buffett's Activision stake is expected to come up at the annual meeting. Geico Berkshire shareholders will also be eager to learn more about what's next for auto insurer Geico , the crown jewel of Berkshire's insurance empire and Buffett's "favorite child." ESG issues There are a few ESG-related shareholder proposals being put to a vote at the annual meeting, including requiring Berkshire to publish an annual assessment of climate-related risks and publish data on its workforce composition by gender, race, and ethnicity.

☆ Yen set to snap 3-week losing streak on bank jitters, dollar slips
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +3 min

A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. "The Japanese yen has slowly gained back its appeal of safe haven status, and has definitely been supported by concerns about U.S. regional banks and the associated safe-haven demand," Kong said. A deepening crisis across U.S. regional banks have kept investors on tenterhooks, with pressure growing on U.S. regulators to take more steps to shore up the sector. "For the Fed's June decision, inflation data and employment indicators ... along with bank lending standards will be key to watch. Down Under, the Australian dollar rose 0.26% to $0.6711, while the kiwi NZD=D3 touched a three-week high of $0.6311.

☆ Yen set to snap 3-week losing streak on bank jitters, dollar slides
▼ + stars: | 2023-05-05 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Although ECB President Christine Lagarde signalled more tightening to come, markets pared back their expectations on how much further rates would rise. Traders have since priced in more aggressive rate cuts from the Fed, with Fed funds futures implying a small chance that cuts could come as soon as June and through to the end of the year. The Aussie and the kiwi were among the largest beneficiaries of the sliding dollar, each rising more than 0.5% and touching multi-week highs. "For the Fed's June decision, inflation data and employment indicators ... along with bank lending standards will be key to watch. The Australian dollar was last up 0.62% at $0.6735, after touching a two-week peak earlier in the session.

☆ Dollar gains, euro dips after cautious ECB
▼ + stars: | 2023-05-04 | by ( Karen Brettell | ) www.reuters.com time to read: +3 min

SINGAPORE, May 4 (Reuters) - The dollar gained against the euro after the European Central Bank eased its pace of rate hikes, a day after the Federal Reserve hiked rates by 25 basis points and indicated that it may pause further increases. The Fed on Wednesday dropped from its policy statement language saying that it "anticipates" further rate increases would be needed. The dollar index was last up 0.30% on the day at 101.52. The greenback was last down 0.17% against the Norwegian crown at 10.73 after Norway's central bank raised interest rates by 25 basis points as expected. ========================================================Currency bid prices at 10:18AM (1418 GMT)Reporting by Rae Wee Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Euro falls after dovish ECB
▼ + stars: | 2023-05-04 | by ( Alun John | ) www.reuters.com time to read: +4 min

The ECB eased the pace of its interest rate hikes on Thursday with a 25-basis-point increase to its three policy rates, the smallest since it started lifting them last summer. "The ECB is clearly striking a more balanced tone and the market is pricing a bit of that, the euro is depreciating and pricing for interest rate hikes at future meetings is coming down, but just a little bit." The Fed has guided markets away from the possibility of rate cuts this year, though markets are pricing them in nonetheless. The Norwegian crown took a short trip after Norway's central bank raised interest rates by 25 basis points as expected. It initially softened sharply against the euro and dollar, but recovered.

☆ Buffett set for 59th shareholder marathon as big questions loom
▼ + stars: | 2023-05-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Mellon

25 mentions found